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次第花开 · 2019年11月29日

问一道题：NO.PZ2018110601000001

  1. CFA III
  2. Asset Allocation

问题如下：

The White has an investment portfolio consisting of $500,000 in equities and $330,000 in fixed income products. The White also own a residence valued at $350,000, which includes $175,000 in mortgage debt. It is estimated that the pre-retirement earnings in this family have a total present value of $980,000, and the future expected consumption have a total present value of $870,000.

The White plans to fund their children’s college tuition fee of $150,000 at present value. They also express the desire to fund a family foundation in 25 years, which has an estimated present value of $600,000.

Use the information above to prepare an economic balance sheet for the White. The economic net worth is:

选项：

A.

$365,000

B.

$1,005,000

C.

$2,280,000

解释：

A is correct.

考点：economic balance sheet

解析：economic balance sheet不仅包含了传统的资产和负债，还包含了extended assets & liabilities，例如养老金、未来消费的现值。

Total economic assets=equity + fixed income + residence + PV (pre-retirement earnings)= $500,000+$330,000+$350,000+$980,000=$2,160,000

Total economic liabilities = mortgage debt + PV (consumption)+ PV (tuition fee)+ PV (foundation)= $175,000+ $870,000 +$150,000 +$600,000=$1,795,000

所以economic net worth= Total economic assets- Total economic liabilities=$2,160,000-$1,795,000= $365,000

请问a family foundation 是一个什么类型的负债呢

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1 个答案

Shimin_CPA税法主讲、CFA教研 · 2019年11月30日

嗨，从没放弃的小努力你好：


family foundation 是未来要实现的目标，属于 extended liabilities。为了满足这个目标，目前的资产配置要达到要求回报率，这样25年后才能拿出这笔钱，建立家族基金。


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NO.PZ2018110601000001 问题如下 The White hinvestment portfolio consisting of $500,000 in equities an$330,000 in fixeincome procts. The White also own a resinvalue$350,000, which inclus $175,000 in mortgage bt. It is estimateththe pre-retirement earnings in this family have a totpresent value of $980,000, anthe future expecteconsumption have a totpresent value of $870,000. The White plans to funtheir chilen’s college tuition fee of $150,000 present value. They also express the sire to funa family fountion in 25 years, whihestimatepresent value of $600,000. Use the information above to prepare economic balansheet for the White. The economic net worth is: $365,000 $1,005,000 $2,280,000 A is correct. 考点：economic balansheet 解析：economic balansheet不仅包含了传统的资产和负债，还包含了extenassets & liabilities，例如养老金、未来消费的现值。 Total economic assets=equity + fixeincome + resin+ PV (pre-retirement earnings)= $500,000+$330,000+$350,000+$980,000=$2,160,000 Total economic liabilities = mortgage + PV (consumption)+ PV (tuition fee)+ PV (fountion)= $175,000+ $870,000 +$150,000 +$600,000=$1,795,000 所以economic net worth= Toteconomic assets- Toteconomic liabilities=$2,160,000-$1,795,000= $365,000 They also express the sire to funa family fountion in 25 years, 这里的family fountion怎么理解，是负债嘛

2024-07-30 16:43 1 · 回答

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2022-08-05 11:50 1 · 回答

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2021-12-03 15:45 1 · 回答

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2020-07-01 21:31 1 · 回答

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2020-07-01 21:25 1 · 回答